I would like to start this note to the readers by thanking everyone who has been involved in transforming our community into what it is today. It is truly a wonderful time to be involved in the hydroponic and controlled environment industry, and after servicing customers for 34 years, CropKing is delighted to see the values and benefits that we have been teaching for decades begin to gain more traction.
From new disease-resistant vegetable cultivars, to incredibly efficient artificial lighting, new technology seems to be introduced on a daily basis. As the industry continues to evolve, CropKing’s goal is to identify and incorporate these best-of-breed horticultural innovations with our systems and business model. By helping both our new and established customers balance these investments with the potential payback, we hope to encourage the continued growth of the industry as a whole.
CropKing has chosen an all-inclusive approach to this industry; our goal has always been to create a relationship instead of just selling equipment. The continued support we offer our growers after the sale is one of the main differentiating factors we bring to this market. Couple that with the decades of experience, and you have a recipe for success.
We wholeheartedly believe that education and technical support, both before and after the sale, are key factors that help people make better investments, identify trends in the market and flatten out the learning curve that any new venture presents. One of the most frustrating statistics we encounter is that 95 percent of new businesses fail before they are 5 years old. At CropKing, we love the fact that more than 85 percent our new growers are still in business, still growing and many are continuing to expand after five years in business. We are soundly convinced this reversal of an established trend comes down to the customers’ access to our top-notch technical support and the 100-plus years of experience that our in-house horticultural staff has to offer.
The tremendous growth in this industry does not show any signs of slowing down. In the U.S., we are currently producing less than 10 percent of the fresh produce we consume in controlled environment agriculture systems. If you look at many European countries, that figure is well above 60 percent. This statistic is a bright spot for not only the companies that service this industry, but for existing farmers, horticultural students, young farmers interested in getting into CEA, and the overall food system in the U.S.
This explosive growth provides many opportunities, but as with all growth segments in a marketplace, it is also an opportunity for unscrupulous businesses. Over the past 34 years, we have seen many companies come and go in this industry, and we urge all newcomers to thoroughly vet the companies they choose to work with. This is not a small investment and should not be taken lightly.
Thank you for helping make us, CropKing Inc., who we are today. We look forward to the next 30 years as this industry continues to grow, and are excited at the potential and opportunities these coming years will bring.
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